North Carolina and Florida are also tops on the list with California, New York and Michigan coming in as the worst.

Chief execs were asked to make their evaluations based on several issues including proximity to resources, tax policies, education and quality of living.

Texas maintained its #1 spot in the ranking for the fourth year in a row, as North Carolina, Florida, Georgia and Tennessee all jumped up in ranks, taking the #2, 3, 4 and 5 spots, respectively.

"Texas and the Carolinas are great for business," said one CEO. "South Carolina's Research Authority is exemplary in terms of creating new economic growth and Texas is strategically centered, has low taxes, and outstanding demographics."